For Week Ending January 14, 2017

In winter, it is not uncommon for housing starts to tail off, but 2016 closed on an uptick and became the best year for housing starts since 2007. Granted, multifamily homes have been driving the increase in recent years, while single-family starts and building permits are mildly down. Yet there is warranted optimism for new single- family home building in 2017.

In the Twin Cities region, for the week ending January 14:

• New Listings decreased 4.8% to 931
• Pending Sales decreased 7.0% to 622
• Inventory decreased 25.6% to 8,347

For the month of December:

• Median Sales Price increased 4.1% to $228,500
• Days on Market decreased 10.1% to 71
• Percent of Original List Price Received increased 0.6% to 96.0%
• Months Supply of Inventory decreased 26.1% to 1.7

All comparisons are to 2016

Click here for the full Weekly Market Activity Report. From The Skinny Blog.